NEW YORK (CNNMoney.com) – The government said Friday the federal budget deficit for the first half of fiscal 2009 jumped to $956.8 billion, more than $500 billion above the gap for all of the prior fiscal year.
The Treasury Department said the federal budget deficit grew by $192.3 billion in March, according to the report released Friday.
Economists were expecting the budget deficit to grow by $160 billion in March, according to a consensus estimate compiled by Briefing.com.
In February, the government added $192.8 billion to the deficit. Last March, the government added $48.2 billion to the deficit.
The deficit for the year that began in October is 110% above the $454.8 billion gap in all of fiscal 2008.
The government has been spending at a record pace recently in an effort to pull the economy out of recession, jumpstart lending, and recapitalize the nation's financial system.
So how long until we have to print "Made in China" on our currency?
Don't forget, the Bush administration conveniently didn't add the cost of 2 wars to the budget, whereas the Obama admin has.
Roll on 2010 and 2012! The arrogant, naive Obama obfuscation and over-reaching is destroying the USA! :(
Lets see how Obama blames this one on Bush. It is quite amazing how every pea brained liberal on here STILL blames Bush for everything wrong with the world. You people make me sick and your not a True American.
Whoever wrote this article is a sure-fire conservative. But what they fail to mention is that Obama inherited a horrible economy, a terrible situation abroad, extensive health care problems, massive national debt, educational problems, a failing U.S. auto industry, and on top of all that he has NO support from Republicans. Who's trying to clean up who's mess?????
This is only the start . . . it will be getting much larger
I thought the stimulus bill, the bailout bill and the other spending bills will help our economy. What happened?
Why isn't anyone commenting here? I can see over 200 comments on issues of no value and everyone seems to be running away from this one.
Hey, this is great – come commie government spend more you can do it! Try harder to spend more!! Come on you can think of something to spend more on. Try Try Try!! I know we don't have the money but you can print more or borrow more from china or do they already own us? The demmie theme spend more, borrow more to get ahead. Why doesn't everyone understand what the demmies and bo know – when you are broke spend more borrow more! Why isn't everyone falling in line with this great thinking?